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Enterprise Products Partners L.P. to acquire Piñon Midstream, LLC in $950 million cash transaction

Aug 21, 2024•over 1 year ago

Acquiring Company

Enterprise Products Partners L.P

Acquired Company

Piñon Midstream

HoustonHoustonOil And GasRenewable EnergyEnergy

Description

Enterprise Products Partners L.P., a leading midstream energy services provider, has announced the acquisition of Piñon Midstream, LLC for $950 million in cash. The acquisition includes Piñon Midstream's assets, such as natural gas gathering and redelivery pipelines, compressor stations, and treating facilities. This strategic move will accelerate Enterprise's entry into the eastern flank of the Delaware Basin and expand its natural gas processing footprint.

Company Information

Company

Enterprise Products Partners L.P

Location

Houston, Texas, United States

About

Enterprise Products Partners L.P. is one of the largest publicly traded partnerships and a leading North American provider of midstream energy services. The company offers a wide range of services including natural gas gathering, treating, processing, transportation, storage, NGL transportation, fractionation, storage, crude oil gathering, transportation, storage, petrochemical and refined products transportation, storage, and marine terminals.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed